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Economics MCQs with Explanations

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3431EconomicsMedium

Sapir and Whorf believe that________?

Alanguage has no part in mental attitudes

Bpreverbal communication is more important than verbal

Clanguages are limited to the number of words for any given object

Dthe structure of a language shapes a people view of the world

Correct answer

D. the structure of a language shapes a people view of the world

Explanation

The correct answer is the structure of a language shapes a people view of the world.

3432EconomicsMedium

A tax whose burden expressed as a percentage of income, falls as income increases is a?

Aproportional tax

Bprogressive tax

Cbenefits received tax

Dregressive tax

Correct answer

D. regressive tax

Explanation

The correct answer is regressive tax.

3433EconomicsMedium

Bureaucracy and extensive social differentiation initially occur in the historical transition from________?

Apastoral to horticultural society

Bhunting and gathering to pastoral society

Cagricultural to industrial society

Dhorticultural to agricultural society

Correct answer

D. horticultural to agricultural society

Explanation

The correct answer is horticultural to agricultural society.

3434EconomicsMedium

Membership in the World Trade Organization for china?

Awas achieved in the early 1950s

Bhas been a matter of low priority for the Chinese government

Chas been opposed by a number of labor and human rights organizations in other countries

Dhas had negligible effect on trade between china and the United States

Correct answer

C. has been opposed by a number of labor and human rights organizations in other countries

Explanation

The correct answer is has been opposed by a number of labor and human rights organizations in other countries.

3435EconomicsMedium

Which of the following countries leads in the production of gold in the world?

AChina

BIndai

CSouth Africa

DBhutan

Correct answer

A. China

Explanation

The correct answer is China.

3436EconomicsMedium

Which of the following is not a supply side measure?

AHelping individuals to move location to find work

BProviding more information

CIncreasing spending on existing industries

DIncreased training

Correct answer

A. Helping individuals to move location to find work

Explanation

The correct answer is Helping individuals to move location to find work.

3437EconomicsMedium

The burden of a tax falls more heavily on the sellers in a market when?

Ademand is elastic, and supply is inelastic

Bboth supply and demand are inelastic

Cdemand is inelastic and supply in elastic

Dboth supply and demand are elastic

Correct answer

A. demand is elastic, and supply is inelastic

Explanation

The correct answer is demand is elastic, and supply is inelastic.

3438EconomicsMedium

The length of a business cycle would be measured from?

Apeak to trough

Btrough to peak

Cpeak to peak

Dthe slump to the expansion

Correct answer

C. peak to peak

Explanation

The correct answer is peak to peak.

3439EconomicsMedium

An example of external diseconomies is?

Aa new drug to cure AIDS

Benvironmental pollution

CR&D in robotics

Dscholarship for technical education

Correct answer

B. environmental pollution

Explanation

The correct answer is environmental pollution.

3440EconomicsMedium

IF GNP per capita at constant prices for Liechtenstein a microstate of 29,000 people located on the Rhine River between Switzerland and Austri is US$555 and US$560 in 2011 and 2012 respectively, the real economic growth from 2011 to 2012 is?

A0.090%

B0.991%

C0.901%

D5%

Correct answer

C. 0.901%

Explanation

The correct answer is 0.901%.

Sapir and Whorf believe that________?

Alanguage has no part in mental attitudes

Bpreverbal communication is more important than verbal

Clanguages are limited to the number of words for any given object

Dthe structure of a language shapes a people view of the world

Correct answer

D. the structure of a language shapes a people view of the world

Explanation

The correct answer is the structure of a language shapes a people view of the world.

Membership in the World Trade Organization for china?

Awas achieved in the early 1950s

Bhas been a matter of low priority for the Chinese government

Chas been opposed by a number of labor and human rights organizations in other countries

Dhas had negligible effect on trade between china and the United States

Correct answer

C. has been opposed by a number of labor and human rights organizations in other countries

Explanation

The correct answer is has been opposed by a number of labor and human rights organizations in other countries.